Do You Still Need to Take North Carolina Pre-Licensing Education? Maybe Not.

North Carolina has prepared a chart for licensed loan originators to help answer questions they may have about the required pre-licensing education. If you are already a licensed loan originator in North Carolina, you were required to take pre-licensing education before your license application was approved and continuing education each year in order to get your licensed renewed and report that education to the North Carolina Commissioner of Banks. North Carolina is counting those hours towards the required 20 hours of pre-licensing education. Accordingly, if you have been licensed for more than two (2) years, you should have completed the 20 hours already. However, even if you have completed the 20 hours of pre-licensing education, you still need to take eight (8) hours of continuing education before you can renew your license this year (renewals through the Nationwide Mortgage License System (NMLS) start on November 1, 2009). You have until December 31, 2009 to take the pre-licensing education or continuing education.

If you are licensed in another state that has already transitioned onto the NMLS and have completed your twenty (20) hours of pre-licensing education in another state, you will not have to take additional hours of pre-licensing education for North Carolina. But to renew your license, you will need to take your eight (8) hours of continuing education.

The chart is available on the North Carolina Commissioner of Banks’ website here:
http://www.nccob.org/NR/rdonlyres/8D26CEAF-53C4-4104-A688-05A17E9C8651/0/CertificationChart92309.pdf

If you are applying for a new North Carolina loan originator license, you must take twenty-four (24) hours of pre-licensing education before your license application will be approved.

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